Freshfields Bruckhaus Deringer is representing Chinese home appliance maker Midea Group Co. Ltd. on a $4.5 billion proposal to buy German robot maker Kuka A.G.
Shenzhen-based Midea has offered $129 apiece for all Kuka’s outstanding shares. But according to a statement on the Shenzhen Stock Exchange, Midea doesn’t intend to buy a 100 percent stake in Kuka—it currently owns 13.5 percent—and plans to maintain Kuka’s independence and its status as a publicly listed company. But its attempt to buy a stake larger than 30 percent triggered a regulatory obligation under German law to make an offer for all Kuka shares.
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